May 14, 2021
In an update to the Board of Regents Finance & Operations Committee, University of Minnesota leaders discussed pandemic-related deficits in the current fiscal year and approaches that continue to help the University close budget gaps. Current projections suggest systemwide shortfalls totalling $172.5 million when the fiscal year ends on June 30, a relatively small change to the $166 million in projected deficits shared with the Board last December.
Senior Vice President for Finance and Operations Myron Frans and Associate Vice President and Budget Director Julie Tonneson outlined recommendations to address the budget shortfall, many of which were already approved by the Board and are currently in place. They include: